In the past few months, the House of Fabergé, infamous makers of the world?s most luxurious eggs, which range from $5,000 to $3 million, launched an initiative to break into the Indian market.
Remarkably, India was the most dynamic luxury market between 2008 and 2013.
Fabergé joins a swelling list of luxury brands that are putting large efforts into that market. These include Burberry and Rolex. Recent studies have suggested that  Asia-Pacific will be the biggest region in the world for luxury goods by 2018.
But how should ultra-luxury brands adapt their marketing strategies to this evolving global market"
For Ashok Som, professor at the ESSEC Business School, Paris, a cohesive ?long-term and shared strategic vision that moves from fragmented marketing activities to totally aligned branding activities is mandatory? in breaking into emerging markets. In short, getting the balance between successful brand awareness and brand building is key. One vital component of achieving this cohesive vision between consumer and producer, lies in tapping into the influence of certain individual consumers embedded in the elusive emerging market.
A Future of Flexibility and Collaboration
Alongside Brazil, India, and China, other emerging markets, like Iran, South Africa, Indonesia and Malaysia, are set to hit their stride in the coming decade. The significance of flexibility and collaboration will increasingly become key in luxury brand marketing strategies within these areas.
Bran...